Can’t Make Rent? More Landlords Willing To Negotiate

In the boom times, requesting a rent reduction before the lease expires might have been greeted by laughter. But these are tough times for landlords: Increasing unemployment is forcing tenants to double up, move home or find cheaper digs, pushing the vacancy rate to its highest level in 23 years.

That’s making landlords more willing to offer cash-strapped tenants deals: More than two-thirds of smaller, independent landlords will reduce rents, while nearly one-third already have in the last 18 months, according to a recent survey from the National Association of Independent Landlords.

It’s not just a token amount. Of those willing to negotiate, 61% would shave rent by up to…